On Wednesday, July 14th, Vice President Joe Biden and Council of Economic Advisors (CEA) Chair Christina Romer released CEA’s new fourth quarterly report on the economic and job creation impact of the American Recovery and Reinvestment Act (ARRA). The report finds that the loan guarantees, grants, and clean energy investments made under the Recovery Act — matched by billions of dollars in private investment – are successfully creating jobs today and growing clean energy industries of tomorrow. CAP’s Susan Lyon has the story.
Vice President Joe Biden credited the Recovery Act for stimulating jobs and economic growth far beyond what it would have been otherwise:
We knew if we didn’t act and we didn’t act boldly, the best estimates were telling us that we would lose another 4 to 5 million jobs immediate — in that year. Well, we did act, and I stand before you today to say to you that…the economic initiatives we took, they are working.
[Source & read more: Climate Progress]
